Tether's gold-backed stablecoin, Tether Gold (XAUT), has completed its first full audit by KPMG, which found the token fully backed by physical gold, the company announced on Thursday.
KPMG issued an unqualified opinion on the financial statements of TG Commodities, which issues XAUT, for the year ended December 31, 2025. An unqualified, or "clean," opinion means the auditor found that the statements fairly present the company's financial position, without reservations.
Tether Gold (XAU₮) Becomes Tether's Second Stablecoin to Complete a Big Four Audit
Learn more: https://t.co/eO0asUwvlI— Tether (@tether) November 12, 2026
As of the end of 2025, TG Commodities held 520,089.350 troy ounces of allocated gold, valued at $2.246 billion, against 520,089.300 XAUT tokens in issue, according to Tether. The gold is held in vaults in Switzerland, and each token represents an ownership interest in gold on specific bars.
As part of the audit, KPMG physically counted and inspected every gold bar backing the token, rather than relying only on confirmations from custodians, Tether said.
"KPMG counted every single bar as pa
